Yuno Expands Operations in Asia Pacific Amidst Competitive Landscape

Yuno, a global payment platform, has announced significant expansions in the Asia Pacific (APAC) region, including the establishment of regional headquarters in Singapore and new operations in China. This dual-office setup aims to simplify global payments and empower merchants to scale across borders. The expansion follows Yuno's earlier entry into the Middle East and the United Kingdom, where it launched regional headquarters in Qatar and London to cater to the evolving payment needs of the Middle East and North Africa (MENA) and European Union (EU) regions.

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The new operations in China are designed to facilitate Chinese merchants' participation in the global digital economy. Yuno offers a single application programming interface (API) that connects to over 1,000 payment methods and more than 450 providers across 195 countries. This includes built-in compliance with regulations such as PCI DSS and GDPR, smart routing to enhance approval rates, and real-time payment insights.

Yuno accelerates global growth with APAC expansion across China and Singapore

Yuno's choice of Singapore as its regional headquarters is strategic, given the city-state's status as a leading fintech hub in Asia. The country boasts strong regulatory frameworks, innovation programs, and a tech-savvy population, making it an attractive location for fintech firms. Yuno aims to align with local regulatory frameworks and contribute to the growth of the payments ecosystem as a member of the Singapore FinTech Association (SFA) and Emerging Payment Association Asia (EPAA).

Yuno accelerates global growth with APAC expansion across China and Singapore

The company also introduced an AI-powered solution named NOVA, which aims to recover revenue from card declines and abandoned checkouts. Early pilots of NOVA have shown promising results, recovering up to 75% of failed payments through customer interactions via phone and WhatsApp.

Yuno accelerates global growth with APAC expansion across China and Singapore

While Yuno expands its operations, the electric vehicle (EV) market in China faces significant challenges. The industry is experiencing a brutal price war, leading to the collapse of numerous brands, including Ji Yue, which recently went bankrupt. This situation has resulted in overcapacity and fierce competition, prompting the Chinese government to intervene with measures aimed at stabilizing the market.

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Beijing has summoned auto leaders to discourage price wars and has issued guidelines to reduce subsidies and eliminate excess capacity. However, experts remain skeptical about the effectiveness of these measures, as the industry struggles with declining profit margins and extended payment cycles.

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Yuno's expansion in APAC and the challenges faced by the EV market highlight the complexities of navigating competitive landscapes in rapidly evolving industries. As Yuno aims to become a key player in global payments, the ongoing struggles in the Chinese auto sector underscore the need for strategic adaptability in the face of market volatility.

Yuno accelerates global growth with APAC expansion across China and Singapore

The interplay between Yuno's growth and the challenges in the EV market reflects broader trends in globalization and technological advancement, emphasizing the importance of innovation and strategic partnerships in achieving sustainable growth.

Yuno accelerates global growth with APAC expansion across China and Singapore

• “China is one of the world’s most advanced digital economies, and its merchants are increasingly going global, “We’re proud to partner with Chinese brands to remove the friction in cross-border payments and help them scale confidently on the world stage,” said SheueChee Beh, Senior Vice President and General Manager of Yuno in APAC.” — SheueChee Beh, Senior Vice President and General Manager of Yuno in APAC.

Yuno accelerates global growth with APAC expansion across China and Singapore

• “Our goal is to become the go-to partner for businesses navigating global payments.” — Juan Pablo Ortega, Co-founder and Chief Executive Officer, Yuno.

Yuno accelerates global growth with APAC expansion across China and Singapore

• “The reality is that newly launched models with lower prices draw in plenty of orders… at the end of the day automakers have to focus on survival.” — Carl Cheng, Insurance Manager for an EV maker.

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